Mike Adunuga Biography: Age, Wife, Children, Net Worth
In Nigeria, the names of the most successful businessmen in the country cannot be mentioned without the name Mike Adenuga coming up. This man is a legend. A force that has shaped the industrial landscape in different ways, contributing to various fields through which a country can thrive, and some of them include communications, banking, and real estate.
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Early Life
Born on April 29, 1953, Michael Adeniyi Agbolade Ishola Adenuga Jr. grew up in a modest family, where his parents did their best to care for their children. His father, Mr. Michael Agbolade Adenuga Sr., worked as a school teacher, and his mother, Mrs. Omoba Juliana Oyindamola, was a successful trader.
Education
Most of his education, both primary and secondary, was undertaken in Ibadan. He first attended Ibadan Grammar School, located in the city of Ibadan, before he moved to Comprehensive High School, Aiyetoro, where he completed his secondary school education and graduated.
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He eventually got admission into Northwestern Oklahoma State University, where he majored in Business Administration, and later earned his Bachelor’s degree. He went further by going for his master’s, after which he obtained an MSC in Business Administration, which he undertook at Pace University, located in New York.
Early Career
Mike Adenuga started delving into business at a very young age, 26 years to be precise. It was when he made his first million naira. The company he was involved in sold lace materials and distributed soft drinks, and to his shock, he was able to make a lot of money from it.
The success he attained at this young age didn’t limit him. Instead, it prompted him to invest more in new businesses and earn more money. In 1990, he got an oil drilling license. With this, he delved into the oil drilling business, and by 1991, he established his own company, Consolidated Oil (now Conoil).
It was a breakthrough for Mike, as this company was the first company owned by a Nigerian to discover oil in large commercial quantities.
Growth in Oil and Telecommunications
One might think Mike would stop with the success he has achieved so far. But the reverse was the case. He, instead, expanded his businesses to different regions across Nigeria, most especially the Niger Delta, where thousands of barrels of oil were produced daily.
In 2003, he decided to dive into telecommunications, and before we knew it, Globacom (also known as Glo), a telecommunications company, was established. It was at this time that he faced some setbacks regarding his first GSM license, which was withdrawn. The issue was later rectified.
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Globacom made a different move not long after its launch by introducing a unique service called per-second billing. This service only allows customers to pay for the time they use, without adding any extra expenses. The company also reduced the cost of SIM cards, which helped them attract a lot of customers.
Apart from his interest and success in the oil and telecommunications business, Mike Adenuga also invested in banking, buying shares in Equatorial banks, and later did the same with Sterling Bank.
Mike Adenuga’s Wife and Children
Mike Adenuga is currently married to Joyce Titi Adenuga. He has eight children, who are from different women.
His children include Adetutu Oyindamola Emilia, Eniola Adenuga, Sade Adenuga, Adeniyi (also called NiyiBoy), Michael Babajide, Tunde Paddy Abolade, Abimbola Been, and Bella Adenuga.
Achievements
Over the years, Mike Adenuga has been recognized by various bodies in Nigeria, receiving numerous awards and honors due to his significant impact on society.
They include;
- Grand Commander of the Order of the Niger (GCON)
- Commander of the Legion of Honour (given to him by the French government)
- African Entrepreneur of the Year in 2007 (given to him at the African Telecoms Awards)
Philanthropy and Support for Society
Mike Adenuga didn’t just keep all his riches to himself; however, through his establishment, the “Mike Adenuga Foundation,” he has been able to help a lot of people, supporting them in different areas of life. These areas include health, education, and empowerment.
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The foundation also gives out scholarships. Most of these scholarships are worth up to millions of dollars every year to support students who want to further their education or explore different academic fields.
In 2019, he decided to provide full support for the government at that particular time, due to the crises the country was facing, including the COVID-19 pandemic. He donated 1.5 billion naira to the government to help them fight the virus, ensuring the country’s safety once again.
This icon has also contributed to the field of sports. His company has supported athletes in the past, including world champion Tobi Amusan.
Personal Life
Mike Adenuga prefers to keep a low profile; instead, he lets his business speak for itself, making waves in various sectors. He prefers privacy over unnecessary publicity and is laser-focused on building his companies, creating jobs, and empowering people, thereby making life easier in different ways for Nigerians to live.
Mike Adenuga’s Net Worth
The net worth of this icon is estimated to be more than $6.9 billion.
Source: Dkmngr.com
